On September 13, the London Court of International Arbitration (LCIA) called for the appointment of independent experts to determine the fair value of a joint venture for Mcdonald’s to buy out Bakshi’s holding.
In this particular case, Bakshi and McDonald’s had stakes in a joint venture company named Connaught Plaza Restaurants. Bakshi claimed that his stakes were worth a certain price, whereas
McDonald’s claimed a lower price. The LCIA upheld McDonald’s position and asked Bakshi to sell his shares.
Nonetheless, on 21 September, the National Company Law Appellate Tribunal said it will study the award.